Job Description
About the Role
We are seeking an experienced Valuations Actuary to join our team in Sandton. As a key member of our insurance group, you will play a central role in statutory, regulatory, and management reporting across Life and Non-Life portfolios. Your expertise in actuarial valuations under IFRS 17 and the SAM framework will ensure accuracy, governance, and insight across monthly, quarterly, and annual reporting cycles.
Key Responsibilities
- Perform monthly, quarterly, half-year, and year-end valuations for Life and Non-Life insurance portfolios.
- Lead valuations under IFRS 17 (GMM and PAA) and SAM, including SCR and capital forecasting.
- Develop, maintain, and refine proxy valuation models for monthly reporting; execute bottom-up valuations at reporting milestones.
- Contribute actuarial insight to planning, forecasting, and ORSA processes, including scenario modelling and capital impact assessments.
- Set, review, and monitor actuarial assumptions and experience analyses.
- Prepare and submit statutory, regulatory, and quarterly/annual returns.
- Deliver analytical insights on loss ratios, acquisition costs, and portfolio performance.
- Present valuation outcomes to the CFO, Product and Valuation Approval Committee (PVAC), and External Auditors.
Requirements
- Bachelor’s Degree in Actuarial Science.
- FASSA or AMASA qualification.
- 58 years actuarial experience, spanning both Life and Non-Life insurance.
- Minimum 2 years hands-on IFRS 17 valuation experience (GMM and PAA).
- Strong working knowledge of IFRS 17, SAM, ECR, and Advisory Practice Notes (APNs).
- Experience configuring actuarial valuation tools such as Mo.net, Prophet, MoSes, Risk Integrity, or similar.
- Coding capability in SQL and/or Python.
Qualifications
- Completed Bachelor’s Degree in Actuarial Science.
How to Apply
About Other Finance/Accounting Jobs in Gauteng
The finance and accounting sector is a significant contributor to the economy of Gauteng, South Africa, providing numerous opportunities for professionals looking to advance their careers. With major financial institutions, banks, and multinational corporations based in the province, there is a high demand for skilled finance and accounting professionals.
Salary ranges in Gauteng are generally in line with national averages, but can vary depending on factors such as industry, company size, and level of experience. According to recent job postings, average salary ranges for finance and accounting positions in Gauteng include:
R250 000 – R350 000 per annum for junior finance professionals
R400 000 – R600 000 per annum for experienced accountants
R700 000 – R1 200 000 per annum for senior finance managers
Key skills required for success in the finance and accounting sector in Gauteng include:
Financial planning and analysis
Accounting standards and compliance (e.g. IFRS)
Data analytics and reporting
Communication and interpersonal skills
Budgeting and forecasting
Risk management
Business acumen and strategic thinking
Major employers in the finance and accounting sector in Gauteng include:
Standard Bank, one of South Africa’s largest banks, with its headquarters located in Sandton, Johannesburg.
Multinational corporations such as IBM, which has a significant presence in the province, and Unilever, a leading consumer goods company.
The Johannesburg Stock Exchange (JSE), which is also based in the province and provides opportunities for finance professionals to work in investment banking and stockbroking.
Career growth opportunities are available in the finance and accounting sector in Gauteng, with many companies investing in training and development programs to support their employees’ career progression. Senior finance managers can move into executive roles, while experienced accountants can take on leadership positions or start their own businesses. Additionally, the JSE offers a range of training programs and certifications for finance professionals, such as the Certified Financial Analyst (CFA) program.
Overall, the finance and accounting sector in Gauteng presents numerous opportunities for career advancement and professional growth, with a high demand for skilled professionals and competitive salary ranges.
This information provides general career guidance. Actual salaries and requirements vary by employer.
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